“Gold Future” exceeded $ 1,780, received a weak dollar – bond yields fell to support the market.

Reporters reported that the price of gold futures jumped above $ 1,780 today (November 15, 2022), with positive factors arising from the depreciation of the dollar. and the fall in US government bond yields. After the United States revealed inflation numbers that were lower than expected.

At 9:21 pm Thai time, the December COMEX (Commodity Exchange) gold contract was executed. plus $4.30 or 0.24% to $1,781.20/oz

A weaker dollar increases the attractiveness of gold. By making gold contracts cheaper for holders of other currencies. Regarding the decline in US government bond yields. This will reduce the opportunity cost of holding gold. Because gold is an asset without interest in the form of earnings.

In addition, gold prices have also been boosted by investor expectations that the Federal Reserve (Fed) will raise interest rates by just 0.50% at its monetary policy meeting in December. after revealing lower than expected inflation numbers

CME Group’s FedWatch Tool shows that investors are 80.6% weighted that the Fed will raise interest rates by 0.50% at its December 13-14 meeting and 19.4% weighted that the Fed will raise rates by 0.75%.

The US Department of Labor released the PPI, a measure of producer spending inflation. October today, with the said PPI number below analyst expectations. This shows that US inflation has peaked.

The headline PPI, which includes food and energy, rose 8.0 per cent in October year on year. That was below analysts’ expectations of 8.3% and slowing from 8.4% in September.

On a month-on-month basis, headline PPI rose 0.2% in October, below analysts’ expectations of 0.4% from 0.2% in September.

The core PPI, which excludes food and energy, rose 5.4 per cent in October from a year earlier. slowing by 5.6% in September.

On a month-on-month basis, core PPI rose 0.2% in October from 0.3% in September.